Vedanta Resources was the first Indian company to list on the London Stock Exchange; now it is delisting without much to show for it

The wheel has come full circle at Indian mining company Vedanta Resources. Fifteen years ago, it was the first Indian company to list on the London Stock Exchange. Next month, it will delist, following Chairman Anil Agarwal’s move to take the company private in a deal valuing it at around $3 billion.

Vedanta’s farewell marks the end of an era. It was one of several mining companies from emerging markets which listed in London during the commodities boom, aiming to tap into the city’s deep capital wells. The likes of Kazakhstan-based...